Held that the amount received by the assessee on account of equipment lost in hole and receipts on account of service tax was not includible in the gross revenue for the purpose of computation of profits under the presumptive provisions of section 44BB of the Act. (AY. 2012-13)
Dy. CIT(IT) v. Schlumberger Asia Services Ltd. (2021) 89 ITR 56 (SN) (Delhi)(Trib.)
S. 44BB : Mineral oils-Presumptive tax-Amount received on account of equipment lost in hole-Reimbursement of service tax-Not to be included in gross receipts for computation of profits for purpose of presumptive tax.